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~o ~iaue and to ~iold ih~ som~~, fuyrl{~er tuil~e Ihe fenemNnfs. {~N?ei~ifumenfs an~~ ap~~wle
~~anres I~~~n~la E~r~un{~inr~. anr~ 1~~~ renfs, issai~s nn~{ projils f~~r~eo~. unto I{~e morlgnyee, in ~PP simplp.
~nd th~~ morfyac~or cui~~~nants ioith 1he morlf~a~ee tl~~t Ihe mortga~or is indMJeasibly sNized oJ said
land in J~e simplp: that Ihe morlga~or I~as poc~d ripl~l and law/u! uuil~o?ity fo cont~ey said lund as aJo~e-
sni~: f~nt I~~P morf~a4or ~vi~~ make suc~ (urlher assurances fo per~ec•! !{~e lee simp~e fif~e fo saic~ ~and in the
mortga~ee as mny reasonably 6e required: tha! the morfpagor 1~ereby /u~ly warrants ti~e tit~e to said land
and u~ill dP/end I{~e same aflains ~l~e lawju~ claims o) nll penon~ wl~o?nsoerer; and tl~at said land is jree
a~d ~lea~ o/ nil encum6ran~e'~~+~ first and second mortgage now presently
due to First Federal S&L Association of Ft. Pierce in the combined ~
amounts totalling no more than $5,300.00
t
PROVIDED ALWAYS,that if said mortgagors shall pay unto said ~
Mortgagee the certain promissory note hereinafter
substantially copied or identified, to-wit:
t 2,899.00 ~
No ~32
Fort Pierce, Florida?~~ry 2~, 19
For vafue received, I, we, or either of us, promise to pay without defalcation to the order of ~
3t . Lucif Mo~tgB~! Co1q~a~y , at the offioe of the PaYee .
herein in For~,P~r~~ F~olida or at such other plaoe as the payee herein shall desigrtate in writing, the
sum of ; ~ i • V with interest from date at the rate of 10.0 96 ~ annum, payabl~
in monthly installments, as follows, to-wit:
a 73•53 on the 1at day of K~Cb lq 75 and a like sum
on the corresponding day of each like succeeding month 4hereaRer .until pgid 1II
t~ll. ?
~
In the event any amounts currently due and/or past due under the terms of this note are not paid f
' ~
' by th~ 7th day of the month, a late penaliy of 5.0% of the combined amounts currently due and/or j~~'
' past due,' will be added to and collected with wfiatever amounts are due for the month in question. If
i cu?renNy due and/or past due payments or parts thereof under the terms of this note remain unpaid
i at the end of any monih, then said unpaid amount will be carried forward and added to the amounts i~
~ coming due under the terms of this note for subsequent months for the purpose of calculating subsequent
~ late penalties. Amounts due under the terms of ihis note are understood to be but not limited to. 'r ' ;
~
` (1) Regularly amortized interest and principal payments. ~
~ (2) City and/or munty taxes when paid by the payee herein.
(3) Insurance prerniums when paid by the payee herein. _
~ (4) Senior mortgage payments whe~ paid by the payee herein. '
~ (5) Street, sewer and water liens when paid by the payee herein. '
~
Each installment first shall be applied in the payment of the interest and ;hen on the unpaid bal- ~
~ ance of the principal sum. If default ia made in the paymeM of any installment when due, then at the ` i
option of the holder, and without any othe~ notice, all the remaining installments shall be due and payable at - ~
~ once. Privilege is given to pay two or more installments at any installment maturity date, b~t this ahal) ~
~ not extend the time of maturity of any subsequent installment. Neitfier forbearance, nor acceptanoe by ° ;
~ the holder hereof after any default in any F,ayment hereon, shall be deemed extension. }
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= Each maker, surety and endorser hereof, jointly and severally, waives demand, presentment,
~ protest and notice of protest for nonpayment, and further ag~ees to any extension of time of payment, f:
: either before or afier maturity, without notioe to any of us; and to pay all costs of collection, including a , ;
ti :
reasonable attorney's fee in the event of any default hereunder. :
;
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~ WITNESS THE HANDS AND SEAL OF EACH PARTY.~S~ John R. FArineau ~q~~
. ar su
~ $~•35 Doc. Stamps affixed to ±
~ original n . :
~ /S/ Mar aret P. Farineau ~q~~ , >
~ s g~are . ar eau - ;
~ / ~ BppK~ PACE~~J~7~+ (SE~?~) . :
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